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Management practices and implementation of strategic planning among small businesses in Ghana.

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Date

2023

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Abstract

Abstract This study focused on the management practices applicable and the extent of strategic planning among small firms in Ghana in order to propose measures for effective management of small firms. The research was conducted in the Kumasi metropolitan area of Ghana. The Pragmatic research philosophy was adopted for the research. The research respondents were small business owners/managers in Kumasi, Ghana. The study used mixed methods approach in data collection. Through this approach numerical data was gathered through the administration of questionnaire as also qualitative data was gathered through interviewing of selected small business owners/managers. The quota sampling method was applied to identify the sample of 500 small firms and the purposive sampling procedure was used to choose 10 small firm owners/managers to be interviewed. The quantitative data gathered in the research were analyzed applying the Statistical Package for Social Sciences (SPSS) version 21, whilst Content Analysis was applied for the qualitative data.The key findings identified in the study were that small businesses in Ghana have limited management skills and also some specific management practices were found to be significantly linked to various dimensions of growth of small businesses as well as competitive advantages enjoyed by small businesses.From the proposed framework developed for the effective management of small businesses it has been established that all the four categories of management practices studied, with the exception of operation-efficiency-focused management practices are significantly associated with the growth of the firm.Also all the four categories of management practices were found to be significantly associated with competitive advantages enjoyed by small businesses in Ghana. The study recommendations include improving the management capacity of small businesses in Ghana, especially in the area of strategic planning and also effectively resourcing and coordinating small business support institutions in Ghana to provide world class and seamless service to small businesses in Ghana. The study has also proposed measures for effective management of small businesses in Ghana so that they can perform their role as the prime mover of Ghana’s economy. Iqoqa Lolu cwaningo lwalubheka izindlela zokuphatha okuyizona kanye nokuthi imihlangano yokuhlonza inqubo yamafemu amancane eGhana ihamba kanjani ukuze aphathwe ngendlela efanele. Lolu cwaningo lwaqhutshwa kuMasipala weKumasi eGhana. Indlela yocwaningo ebheka ukusebenza kahle kwento yiyona eyalandelwa kulolu cwaningo. Abahlanganyeli bocwaningo ngosomabhizinisi nabaphathi bamabhizinisi eKumasi, eGhana. Lolu cwaningo lwasebenzisa indlela exubile yokukhiqiza imininingo. Ngale ndlela, imininingo eyizinombolo yakhiqizwa kusetshenziswa uhlakasikwele lwemibuzo kanti imininingo yekhwalithethivu yona yakhiqizwa kusetshenziswa inhlolovo nabahlanganyeli abangosomabhizinisi abancane nabaphathi bamabhizinisi. Indlela yokuqoka ngokungenhloso yasetshenziswa ukuthola amafemu amancane angama-500 kwase kusetshenziswa indlela yokuqoka ngenhloso ukuqoka abahlanganyeli abangosomabhizinisi abancane nabaphathi bamabhizinisi abayi-10 ababezohlatshwa ngemibuzo yenhlolovo. Imininingo yekhwantithethivu ihlaziywe kusetshenziswa indlela yokuhlaziya, iStatistical Package for Social Sciences (SPSS) ka-21, kwathi indlela yokuhlaziya ngokwengqikithi, iContent Analysis yona yasetshenziswa ukuhlaziya imininingo yekhwalithethivu. Imiphumela ebalulekile eyavela kulolu cwaningo ukuthi amabhizinisi amancane antula amava kwezokuphathwa kwawo kanti ezinye zezindlela zokukuphatha zinakho ukuletha ukukhula kwamabhizinisi amancane nokuwenza akwazi ukumelana nezimo zamabhizinisi amancane eGhana. Kule ndlela yokuphatha ngokuyikho amabhizinisi amancane, kuvelile ukuthi zozine izindlela zokuphatha amabhizinisi amancane, ngaphandle kwale ebheka indlela yokwenza izinto ngokuyikho, zonke zinakho ukwenza amabhizinisi amancane akhule. Zozine lezi zindlela zokuphatha amabhizinisi zatholakala zikwazi ukwenza amabhizinisi amancane akwazi ukumelana nezimo zamabhizinisi amancane eGhana. Lolu cwaningo luphakamisa ukuba kuthuthukiswe indlela yokuphathwa kwamabhizinisi amancane eGhana, ikhakhulukazi ekuhleweni kwamasu okulawula inkampani kanye nokuhlinzeka ngezidingo zokusebenza nokunikeza ukwesekwa kwezinhlaka zamabhizinisi ukuze iGhana ikwazi ukunikeza izidingo ezisezingeni lomhlaba kwezamabhizinisi amancane. Lolu cwaningo lunikezela ngamasu okwenza amabhizinisi amancane aphathwe kahle njengoba kuyiwona aphethe umcebo wezwe laseGhana kwezamabhizinisi.

Description

Doctoral Degree. University of KwaZulu-Natal,Durban.

Keywords

Africa Development Bank., World Bank., Foreign Direct Investment.

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